173 East 120th Street, New York City, NY 10035
Listing Courtesy of Compass
$3,500,000
Potential Rebate: $52,500
Overview
This property is being offered via luxury private auction, now accepting bids. Visit Paramount Realty USA’s website for full terms and details.
173 East 120th Street is a remarkable mixed-use property located in East Harlem, offering a unique blend of residential and commercial spaces. This modern, 25-foot wide building features an elevator, curb cut, and private garage, making it a versatile option for various uses.
Situated on the north side of East 120th Street between Lexington and 3rd Avenues, the property overlooks the Harlem Art Park, providing bright and scenic views. The 4-story building includes a commercial video production studio with high ceilings on the ground floor and a marble-clad entrance lobby with keyed elevator access to the upper floors.
In 2006 the building underwent a complete gut renovation which included the replacement of all mechanical, electrical, plumbing, and HVAC systems, a fourth-floor addition, and the installation of a commercial-grade elevator.
Residential Space:
- The second floor hosts a spacious, floor-through apartment with four bedrooms and two full bathrooms.
- The third and fourth floors are configured as a beautifully renovated duplex, featuring two bedrooms, two and a half baths, two finished outdoor spaces, a chef's kitchen, wood-burning fireplace, and keyed elevator entry to both floors.
Commercial Space: A complete video studio, soundstage and additional production facilities are located on the first floor and in the finished basement.
The property is near the bustling 125th Street corridor and the East River Plaza retail complex, which includes major retailers like Costco, Burlington, Old Navy, and Marshalls. A five-minute walk to the 4, 5, and 6 subway trains at 125th Street and Lexington Avenue, offering quick access to midtown Manhattan. Additionally, the Metro North Commuter Railroad's Harlem Station is nearby, connecting the property to New York City's northern corridor.
173 East 120th Street is an exceptional opportunity for those seeking a beautifully renovated, turn-key property that is ideal for full owner occupancy or a live/work plus income scenario. Its strategic location and versatile spaces make it a prime choice for potential buyers or investors.
Home Features
- •Central Air
- •Natural Gas
- •In Unit
- •See Remarks
- •Balcony
- •Private Outdoor Space Over 60 Sqft
- •Double Vanity
- •Dryer
Estimated Monthly Payment
$19,070 per month
30 year fixed, 6.28% Interest
Estimated Rebate for this Home
One-time rebate at closing
$52,500
Monthly savings impact
$146/mo
💡 Estimated at 1.5% of purchase price
The rebate is paid to you at closing and can help offset closing costs or other expenses.
Calculator Disclaimer: This calculator provides estimates for informational purposes only. Actual monthly payments, interest rates, taxes, and rebate amounts may vary. The rebate calculation is an estimate and subject to final terms. This information is not provided by the Real Estate Board of New York (REBNY).
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Listings
RLS IDX Data display by Real Estate Rebate Team. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2025 The Real Estate Board of New York, Inc., All rights reserved. IDX information is provided exclusively for consumers’ personal, non-commercial use and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer and for no listing shall the number of bedrooms listed be considered a legal conclusion.
The Real Estate Rebate Team
Listing Courtesy of Compass
Data Source: TRESTLE #RLS11031109
Price Analysis
Compare average listing prices and value metrics for 173 East 120th Street against the surrounding East Harlem market.
Average List Price
Price Per SqFt
54.03% Lower
than the East Harlem price-per-sq-ft average
Units in this building are listed below the neighborhood average, potentially offering better value per square foot compared to surrounding properties.
East Harlem
Overview of East Harlem
East Harlem, also known as Spanish Harlem or El Barrio, is a culturally vibrant neighborhood stretching from 96th Street to 125th Street on the East Side. It is a community rich in history, music, and art, offering some of the most affordable access to Manhattan living. For buyers looking at East Harlem Manhattan real estate, the area provides value and strong cultural roots.
Living in East Harlem, Manhattan is colorful and spirited. It is a neighborhood where murals adorn the walls and salsa music fills the air. As an evolving Manhattan NYC neighborhood, it is seeing new investment and development while fighting to maintain its distinctive Latino heritage and community soul.
Real Estate & Housing Market
The market for homes for sale in East Harlem is one of the last frontiers of affordability in Manhattan below 125th Street. Inventory ranges from HDFC income-restricted co-ops to newly constructed luxury condos that offer amenities like roof decks and gyms at a fraction of the cost of the Upper East Side.
Investors are active here due to the incoming Second Avenue Subway extension and the rezoning initiatives. It attracts first-time buyers who are priced out of Yorkville but still want quick access to the Midtown corridor.
Lifestyle & Community
The lifestyle in East Harlem is community-centric. Residents shop at the La Marqueta marketplace and gather at local panaderias. The dining scene is a highlight, featuring legendary spots like Rao's (if you can get a table) and authentic Puerto Rican and Mexican cuisine.
The vibe is energetic and unpretentious. The neighborhood has a strong activist history and a deep sense of pride. Cultural institutions like El Museo del Barrio keep the local traditions alive and vibrant.
Transportation & Accessibility
East Harlem is currently served by the 4, 5, 6 trains on Lexington Avenue, which can be crowded but efficient. The M15 Select Bus Service offers a rapid alternative down First/Second Avenues.
The biggest news is the future Phase 2 of the Second Avenue Subway, which will bring new stations to 106th and 116th Streets, dramatically improving connectivity and real estate potential. Easy access to the FDR Drive and the RFK Bridge makes it convenient for car owners.
Parks, Schools & Amenities
Thomas Jefferson Park is a major asset, featuring a large pool, track, and sports fields along the East River. Residents also have access to the northern reaches of Central Park, including the Conservatory Garden.
The neighborhood is amenity-growing, with a large Target and Costco at 117th Street (East River Plaza) providing suburban-style shopping convenience that is rare in the borough.
Who This Neighborhood Is Best For
East Harlem is best for first-time buyers, value-seekers, and cultural enthusiasts who appreciate a strong neighborhood identity. It is ideal for those who want to be part of a diverse, transforming community.
